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-called fiscal a cliff right now. the house and senate are striking a deal oh avoid massive tax hikes and spending cuts. derek ward is live with more on what's happening today. >> the end is near. that's the end of the year, of course. what about the path that ends at the end of the fiscal cliff. senators should be back at it. the house reconvened this morning. such new year's eve appearances are on the hill. senate minority leader mitch mcconnell and joe biden kept in place to avoid $200 billion in tax increases. broad stroke spending cuts and domestic and defense spending. they would take effect gradually over a period beginning at midnight if the white house and congress can't reconcile their differences. it appeared to have been movement on the cost of living increases for social security recipients. opposition to the white house's proposed rate of increase was dropped but the common ground is even shaky. the fierce disagreement over whether the bush era tax cut with the top income earners should be allowed to expire while middle income earners would see tax relief. the sticking p
the fiscal cliff, how it will affect your paycheck right away. >>> i'm tracee wilkins in prince george's county. coming up, clergy, children, folks who live in this county remember sandy hook by gathering for prayer in front of a gun shot. i'll have that story coming up. >>> another winter storm making its way. more cold air. >>> we continue right now to follow the latest on the fiscal cliff talks. in just a few minutes, president obama is expected to speak to the media. he's been in meetings all afternoon with congressionally leaders. those meetings wrapped up just over an hour ago. at this point, no word of an agreement. >>> so what if there is no deal? what's the impact of going over the clip for you and your family? we8, right away on your next paycheck you'll see an increase of 2% in the social security tax. for the average family that's about $1,000 more every year. now, something that might take a few weeks, income tax rates will also rise for everyone. if you make between $50 and $75,000, you'll stand to lose about $92 every paycheck. for those making between $75 and $100,000,
with this fiscal cliff. >> the president did say deja vu all over again. if corker is right, we are going to say some of the same machinations we've seen before. if it doesn't happen, the president wants that up or down vote on his plan. >> remember night, monday night is new year's eve when it all could go bad. >> and happy new year to you. >> thank you, gary. >>> and economists are warning that going over that fiscal cliff could pull us all back into recession. congress impressional democrats attended a new year's eve style rally saying the fiscal cliff ball is in the republican court. surae chinn is on capitol hill. >> i'm urging congress to take action, stop playing games, and let's move on. >> reporter: frustration has boiled over for bob packer, a small business owner. >> i'm disappointed and angry. if they were my representeddives, i'd certainly vote them out of office. >> on tie mitchell of brokering a deal is waning. >> we do have a chance, an outside chance to get this done. >> we need two words. presidential leadership, on not just taxing rich people. >> reporter: some democratic lawm
to the edge of the fiscal cliff. will every american see their taxes go up when that famous ball drops? our chief white house correspondent jon karl on the behind-the-scenes scramble tonight. >>> on ice, the deadly accident in the west. the frigid system moving into the east, just as many dig out from more than a foot of snow. meteorologist ginger zee standing by tonight. >>> caught on tape, the chilling new view of that deadly crash landing, the jet spinning to a halt feet from a bustling highway. tonight, who authorities are now zeroing in on. >>> and amazing grace. what we're now learning about the presidential serenade from the oak ridge boys. ♪ amazing grace how sweet the sound ♪
're waiting to see what happens with the fiscal cliff. >> hope is fact if congress can get it done before january 1st. even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time presiden
the the fiscal cliff. everyone's taxes as of right now set to go up january 1st. do we have the countdown clock up? we'll get that up later, but here is where congressional leaders and the president stand on the fiscal cliff, listen. >> but whatever we come up with is going to be imperfect, some people are going to like it, some people like it less, but that's where we are and i feel confident that we have an obligation to do the best we can. >> a good meeting down to the white house. we are engaged in discussions, the majority leader and myself, and the white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make hess to his conference and we'll be working hard to see if we can get there in the next 24 hours and so i'm hopeful and optimistic. >> i'm modestly optimistic that an agreement can be achieved. nobody can get 100% of what they want. let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jo
and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to try to free up some cash to hold off, temporarily, this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road, this has been happening over and over again. somebody has to make some decisions here. >> it's like in this business, they give you a deadline and you have to hit the deadline. there's no coming in and saying take another ten minutes. it don't work that way in real life. there are americans out there saying, get off your couches, get back to washington, and get the deal done. >> sometimes it's not pretty you when you have to rush, but, hey, get it done. >>> still on the economy now, new signs of a turn around in the real estate market. for the first time since 2006, average housing prices may end the year on an upward trend. good news there for the economy. real estate prices in 20 cities wer
this morning, a rather dire prediction about the fiscal cliff and what might happen when lawmakers return later this week. it's a pocketbook issue for all of us. >> some people are expecting to maybe go right over that cliff. >>> and later this half hour, the christmas edition of our insomniac play list. putting a new spin on some of the old christmas classics. >>> topping our news right now, the nra is not backing down from its call to place armed officers in the nation schools. >> congressman chris murphy calls it revolting. >> reporter: from the brooklyn bridge in new york to the sidewalks of falls church, virginia, anti-gun protests are springing up around the country. the debate on gun control has also triggered a run on gun shows and gun stores. sales are soaring as people rush to buy assault weapons before a possible ban. >> we're completely out of the so-called assault weapons. so they're buying up everything. >> reporter: an abc news washington post poll show as majority of americans continue to favor more restrictions on gun ownership. even sales of gun safes are shooting up. >> peopl
. the fiscal cliff might seem extremely large right now. we look at the more long-term view, a small blip on the overall screen. we'll see a lot of volatility but can you deal with the volatility and if it's causing to you lose sleep it might have an indication you might want to make some changes. >> it's hard not to have a knee-jerk reaction. before we get to that talk about tax deferred accounts. how will the fiscal cliff affect them. >> this is the beautiful part about this is that the biggest concern individuals are having that we've worked with and talking to, what is going to happen with my taxes? what is going to happen with my dividends taxes, capital gains? so the best part about it, if you're dealing with non-qualified accounts you might have to be concerned about that but qualified accounts or tax deferred accounts such as your 401(k)s and individual retirement accounts, roth and traditional, these accounts are tax deferred and many 509 plans, college savings plans, different types of concept are tax deferred and some are tax free such as 529 so maximize this and eliminates the
-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a little bit of movement when they are compromising which americans should should get ready to pay a higher tax rate. >> reporter: in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, vice president joe biden, to help in negotiations, this as the white house puts the blame on the impasse on the gop. >> they say the biggest priority is making sure we deal with the deficit in a serious way. the way they are behaving is the only priority is making sure tax breaks for the wealthie
can come to an agreement on the fiscal cliff. wall street has a full trading day today. checking the numbers for you the dow starts this morning at 12938. that's right below 13,000 after selling off 158 points on friday. of course over concerns about the fiscal cliff. the nasdaq lost more than 25 points and the s & p 500 was off by around 16 points. >>> real estate in ocean city is moving off the market at a very brisk pace right now. numbers from the coastal association of realtors shows a 25% reduction in the inventory of unsold condos in ocean city. that includes multi-million dollar properties. the data show contracts are up 14% year to date with settlements up 6%. inventory increased sharply from march through november after being flat from last december to last march. realtors say there is no single cause for this unusually busy sales market. >>> and there is redskins related financial news this morning. construction on the washington redskins training camp in richmond could start as soon as next week. the redskins have agreed to hold their summer training camp as part of a
. >>> the looming fiscal cliff with republican lindsey graham and dianne feinstein and the benghazi attack. a preview when we come back. >>> gwen tolbart will be back with the workweek preview. stay with us. we will be right back. it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> the so-called fiscal cliff is looming. a live look now at the capitol where lawmakers held negotiations into the night and early this morning. they will be con convening -- convening once again this afternoon. >> at the top of the hour, we are going to have an exclusive interview with senators diane phi stein and -- feinstein and lindsey graham. maybe they have gotten word as to how these negoti
, some sort of a deal to avoid the fiscal cliff as lawmakers continued to work on this. it is a chilly new year's eve out there. good morning. i'm sarah simmons i'm wisdom martin. welcome to fox 5 morning news. chilly indeed. let's bring in tucker barnes again to talk about it. >> is it new year's eve already? >> time is flying by, man. >> you're questioning it -- >> i feel like it is still the night before. >> no, it is officially the 31st. it's just our life, you know. >> yeah, kind of sad. >> let's get to the temperatures. it got cold. it was cold yesterday but at least the wind have let up. 30 at reagan national. 4 at dulles. bwi marshall, 29. we should warm up in the mid- 40s today. the clouds will increase tonight but we are not expecting any rain and/or snow shower activity. there is a better chance we'll see one or two tomorrow. the pattern generally going to be try. there is your satellite-radar. some storminess out to the west but well out to the west. you can see there is plenty of clouds out to the west. we'll see the clouds but won't see the storminess today. highs today,
the fiscal cliff because that stuff happens automatically but the idea of a debt ceiling increase, they've told obama if you want a trillion dollars in higher debt and he needs that eight times in the next decade, you have to cut spending a trillion dollars. >> here, i'll ask you again. 0 i'm a republican congressman and i signed your tax pledge to not raise taxes. if someone says here's a bill that says if you sign this we will cut taxes for 98% of americans. how could you say no? my point is, the administration is winning the war of optics. if they played it out this way, do they not win? >> well, they've won the war of optics so far because everything's been done in camera. it's been done inside closed walls. if c-span and fox and -- were able to videotape the negotiations, the kind of thing we're learning now about how obama said i have no interesting in cutting spending, he's been lying for two months about his negotiationing position in the room. if people knew that, there would be serious unhappiness in his lack of seriousness with cutting spending. if the negotiations were here
. right now we have very well leverage in the debate over the fiscal cliff because that stuff happens automatically but the idea of a debt ceiling increase, they've told oba if you want a trillion dollar in higher debt and he needs that eight times in the next decade, you have to cut spending a trillion dollars. >> here, i'll ask you again. 0 i'm a republican congressman and i signed your tax pledge to not raise taxes. if someone says here's a bill that says if you sign this we will cut taxes for 98% of americans. how could youay no? my point is, the administration is winning the war of optics. if they played it out this way, do they not win? >> well, they've won the war of optics so far because everything's been done in camera. it's been done inside closed walls. if c-span and fox and -- were able to videotape the negotiations, the kind of thing we're learning nowbout how obama said i have no interesting in cutting spending, he's been lying for two mons about his negotiationing position in the room. if people knew that, there would be serious unhappiness in his lack of seriousne with
talked about the looming fiscal cliff. >> i'm not sure what's next. i can tell you, the senate's here, we're in session, we had votes tonight. the president is here. i'm the eternal optimist. we can pass the farm bill that we passed last june. by cutting subsidies for wealthy farmers. so, there's a lot of things that we can do but it's going to take the speaker deciding that he wants to work across the aisle to get it done. >> you can catch the rachel maddow show right here on msbnc on 9:00. >>> retired four-star general norman schwarzkopf died thursday at his home in tampa, florida. he was 78. the hard-charging general, was most famous for leading coalition forces to victory during the first persian gulf war in 1991. under his command it took troops just six weeks to drive saddam hussein's army out of kuwait. gener schwarzkopf is survived by his wife brenda and their three children. >>> former president george h.w. bush are main street in intensive care this morning. while mr. bush's condition is serious, in an e-mail, a spokesperson said for the family said that the president hasn't los
friends on new year's eve. right now you talk about the fiscal cliff and also hitting this potential debt ceiling limit as well. $16.4 trillion we could arrive at on new year's eve. >> juliet: yeah. let's hear what congressman tray goudie had to say about this. he was on greta the other night. >> i assure you that there will be a resolution either before the new year or shortly after the new year. that's the good news, that there will be a deal. the bad news for you and your viewers is that there won't o'clock a solution. it will be a panacea or some magical alickser, make us all feel a little better. but shortly after the new year, we're also going to get a letter from timothy geithner asking us to raise the debt ceiling for the 80th time in our country's history. so there will be a quote, move to avert the fiscal cliff. your viewers should demand more than a deal. they should demand a solution. >> juliet: kimberly guilfoyle had that. >> kelly: here is a problem with all that, and i hope the congressman is right, because you want to have a sense of optimism. the president talked about be
't so high for the rest of us. >> that's right. two days left until we all go over the fiscal cliff, which would mean everyone's taxes will go up, and sharp spending cuts will go into effect. that could drive our economy back into recession. so let's go to abc news chief white house correspondent jonathan karl filling in today for george stephanopoulos as host of abc's "this week." >> hey, jon, good morning. i know today and tomorrow, obviously hugely important. can you sort of walk us through the potential order of operations? what could we see play out today and tomorrow? >> well, it is right down to the wire, dan. what's happening right now is harry reid and mitch mcconnell, the top democrat, top republican in the senate, are still negotiating their staffs at this hour. they are supposed to be working until about 3:00 this afternoon when the plan would be presented to both caucuses. as we understand what they are talking about is the bare minimum. basically the senate negotiating to extend those tax cuts for everybody making under $250,000 a year and to extend unemployment benefi
towards a deal to avoid the fiscal cliff. we know that about eight hours from now right at three o'clock here in d.c., senator mitch mcconnell and senator harry reid, the principal negotiators from the senate are going to is sit with senators from their parties down and tell them the numbers they've agreed should be in the deal and if those meetings go well, they might be able to vote tomorrow in the senate, tomorrow afternoon. the house of representatives though would then need to support it, too, before it can become a law and we heard last night a little bit of what republicans there are worried about at this stage. >> it's about making sure that we can live within our means and address the real problem and that's spending. i kind of feel like i'm a lifeguard and we've got to save as many people from drowning in higher taxes that we can. >> reporter: one of the big sticking points so far has been the income threshold for tax increases, basically trying to figure out who should be classified as wealthy and who should count as middle class. president obama wanted $250,000 per hou
to head back to washington and jump-start the fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white house is pointin
schools. right now they have very little leverage onra this debate over e fiscal cliff because that stuff happens automatically, but the idea of a debt ceiling increasef they told obama more than once if you want a trillion dollars, you will need that eight times in the next decade they will have to cut spending a trillion have to cut spending a trillion eric: i'm a republican, congressman, senator tax pledge to not raise taxes. teo if somebody approaches me and says here is a bill that says if youhi sign this we will cut taxn for 98%, how can you say no to that? my point is this. the administration is winning the war of optics. if they played it this way, do they not win? >> they won the war of optics so far because everything has beene done. done inside closed walls.nd f if c-span, fox are able to videotape the negotiations, the kind of thing we're learning now about obama that i have no interest in cutting spending, just want tax increases. he has been lying about his negotiating position. k if people knew that, there is serious unhappiness on his lack of seriousness with cutting spend
're at in the system right now. >> it's all about the fiscal cliff, guys. schultz says this is a way to, quote, send our elected officials a respectful but potent message. interesting way to do it. >> the problem with the starbucks, they'll cut a deal. >>> let's talk about sports, shall we? call him a bad quarterback but do not call him a bad teammate. tim tebow firing back after a report that said he asked to sit out some offensive plays on sunday after being snubbed for the jets starting quarterback job. espn says tebow was so upset with the perception that he quit on the team that it dampened his christmas. as for tebow, he will likely be out of new york by next year, headed to presumably the jacksonville jaguars, his home team. but you know what this is? world's smallest violin. you think i feel sorry for him? >> especially with $5 million after being traded from denver. come on, tim, you're terrible. >> oh! >> he's got a lot to say. >> back to the dinner topic right now. as we have told you, president obama lands in washington today, back from hawaii to take part in negotiations over the f is c
it comes to the fiscal cliff. there are no major discussions going on right now about what to do now that talks between the president and the speaker appear to have stalled. in fact, the president and senate majority leader harry reid were both here in honolulu yesterday for the funeral of hawaii senator daniel inouye. we're told they didn't really discuss what to do next. before he left washington the president urged leaders to craft a sort of scaled down plan that simply extends the bush tax rates for the middle class and extends long-term unemployment benefits for another year. but, jeff and rebecca, it's really unclear whether even a package like that could pass both houses of congress. so the president is going to be cutting his vacation short and heading back to washington midweek to work with congressional leaders. at that point, as you know very little time left to get a deal only about five days. >> the pressure will be on. no do-overs for this one. nancy, i want to turn to michael crapo and his dui. what kind of details are emerging on that? >> reporter:
the fiscal cliff. no official talks are scheduled and lawmakers have left d.c. for the holiday break. president obama is in hawaii but may return early to resume negotiations. taxes for all americans will go up if a deal is not reached by january 1st. the main sticking points are tax hikes and spending cuts. >>> we are learning more about the dui arrest of a u.s. senator. mike crawl crapo was pulled over in alexandria. an officer said he saw him run a red light. police say he registered a blood alcohol level of .11. the legal limit in virginia is .08. the senator was released on bond about four hours later. the senator released a statement sunday saying i am deeply sorry. i made a mistake for which i apologize to my family, my idaho constituents and any others who have put their trust in me. he is due in court january 4th. >>> heading home for the holidays. nasty weather out west makes the journey longer for some people. we will take a look at mother nature. ♪ because we know how much you do to make the holidays just right. from ornaments to ottomans, memories are made with ikea. >
. >>> time is running out for lawmakers to come to a deal to avoid the fiscal cliff. in less than 48 hours taxes go up for a majority of americans and spending will be slashed if leaders from both sides don't compromise. leaders from both sides are to be in session today. >>> and police found a body last night around 8:30 in the southeast d.c. the "washington post" reports the victim was behind the wheel when she whe was shot and then crashed into a police. police have not made an arrest in this case just yet. >>> and a blast killed 19 people and injured 30 others in pakistan. the attack happened near three buses in pakistan. the shia pilgrims were there. and so far nobody has taken responsible for the attack. and investigators are trying to determine whether some victims took too much of the cough syrup to get high or if there was a problem with the medicine itself. 62 people are in the hospital after drinking cough syrup. >>> and u.s. troops are headed to central africa to help evacuate u.s. personnel. personnel at the u.s. embassy were pulled out of the country this week as concerns gro
of this country, not about the welfare of a political party. gregg: all right. brad, the fiscal cliff is one of the reasons why people are so incredibly gloomy about the future, and, you know, dick's making the point here when speaker john boehner can't even get his own party to follow him and put up a vote on his plan, i mean, aren't republicans equally to blame for the public's profound pessimism? >> well, we have a divided nation, that is for sure. this president has not done his job in leading, and had he done his job in leading especially in the fiscal cliff, he wouldn't be in hawaii now, he'd be in washington making sure that we had a deal -- gregg: has boehner done his job? >> boehner has done a great job in trying to lead republicans to a solution. gregg: seriously? >> absolutely. gregg: he can't even get a vote on his own plan, come on. >> here's the problem, gregg, is we have a president who basically says it's his way or the highway, and republicans are saying, no, we will raise revenue, but we won't do it at the expense of spending. our problem is a president who loves to spend m
a fiscal cliff that threatens a double dipper? we'll be right back. constipated? yeah. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional constipation. thanks. [ phillips' lady ] live the regular life. phillips'. heather: welcome back. a heartbreaking story on one of the victims in newtown, connecticut. according to "the new york post," a heroic teacher's aide who died shielding a student during the shooting, was buried wearing the engagement ring that she was supposed to get for christmas. rachel davino's boyfriend was planning on proposing christmas've, but his dreams were shattered when the 29-year-old was gunned down. rachel was one of the 26 women and children killed on december 14th when a gunman opened fire inside sandy hook elementary school. twenty of the victims, children. ♪ gregg: new signs the economic recovery has actually stalled, the holiday shopping season turned out to be a bit of a bust for the retailers. 2012 saw the worst year-over-year performance since 2008. sales of electronics, c
:30, president obama says there needs to be immediate agents to avoid the fiscal cliff. the president held a news conference just before 6:00 this evening. he says he's optimistic an agreement can still be reached. this afternoon mr. obama said the meeting was good and constructive. >> the one thing the american people should not have to wait and see is some sort of action. if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor and i've asked senator reid to do this, put a bill on the floor that makes sure taxes on middle-class families don't go up, unemployment insurance is still available, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year, but let's not miss this deadline. that's the bare minimum we should be able to get done. >>> senate leaders say they hope to reach a compromise that could be presented to lawmakers by sunday, a little more than 24 hours before the deadline. >>> and don't miss "meet the press" on sunday morning. david gregory will interview president obam
have other words in washington we're annoyed by. >> fiscal cliff. check them out. this band is really great. you heard them playing music for the redskins cheerleaders. listen a little bit. ♪ shake, shake, shake, shake your booty, shake your booty ♪ >> right on ban, 10 piece band, full morning section. they'll be playing for us. >> and how about we have a band that brings its own dancers in here? this is the real deal. they are great. they played at dave ross' brother's wedding? >> and also for the last few u.s. presidents. >> how about that? >> maybe the biggest band we've had here. >> i think so. heard them all morning long and they are great. >> you have to see the platform shoes the keyboardist has. >> can we show them later? >> tucker barnes is here with the weather. >> fine today. cool conditions start today. overnight in the low 30s. low 40s today for highs. fine today. partly sunny conditions expected. things get more interesting late tonight and early tomorrow. current temperature, 38 at reagan national. here we go, 36 in leonardtown. 39 in salisbury. freezing mark, 32 t
-to-day operations would likely not change dramatically if we go over the fiscal cliff. any potential layoffs would probably not happen immediately. workers are watching this very closely. watching children skate round and round is how many americans would describe what they're watching right now on capitol hill. >> it is absolutely unconscionable. >> in the pentagon, it is alarming. it would lead to sequestration across the board government cuts. the planning has already begun for temporary layoffs. civilian furloughs could impact up to 800,000 workers. >> it feels like a punch in numbers gut. >> she works with the faa. >> a lot of uneasiness, nobody knows what things will happen. everyone is nervous. >> it is really having an impact on everyone. >> she is a server in pentagon city. 70 or 80% of customers come from the pentagon. >> it is affecting every level it is scary. what am i going to do? >> that is a question a lot of people are asking. defense companies in this region at a deadly opposed sequestration. -- adamantly opposed to sequestration. >> we're monitoring all of the action and reactio
to vote tonight on a last-minute deal to prevent going over the fiscal cliff. without a deal, automatic tax hikes and deep cuts in defense spending and other areas are set to go into effect at 34id night. right now the house doesn't expect to vote tonight, but house speaker boehner reminded measures to stay close to the capitol in case that changes. >>> celebrating on this new year's eve, some couples getting ready to tie the knott at midnight in maryland. those marges will officially become law legal in the state at 12:01 a.m. that has one couple from frederick plans their ceremony right down to the second. pirchlts whenever it says 12:01, wherever i am, i will say "you are married." >> i want to spend the rest of my life with her, and i want to tell the world that, and i should be able to. >> i'm excited and thankful we get to have this day. i'm just happy. >> reporter: couples wanting to get married will have to wait until wednesday as maryland courthouses are closed for new year's day. >>> there's other new laws taking effect in maryland. the first is the child identify lock law. it
. we begin with that fiscal cliff hanger in washington, d.c. there are now just two days left until automatic tax hikes and severe budget cuts go into effect the. the president is urging them to reach a deal. senate leaders are working on a last-minute compromise. >>> a horrific accident in mississippi. six people including five children were killed when their suv plunged into a creek yesterday. the children were all related. police say four other adults including the parents of those children managed to escape. the vehicle that caused that accident is under investigation. >>> stunning video of a plane crash outside of moscow, russia, the passenger plane overshot the runway and slammed into a highway yesterday. amazing video for that. the eight members on board were killed. no passengers on the plane and no one on the highway was hurt. the cause of that crash is under investigation. >>> and finally, a celebration at the vatican. about 40,000 young pilgrims from all across europe attended an open air mass conducted by pope benedict. they cheered as the pope waved to the crowd from hi
, it is the last trading day of the year on wrlt. everybody is going to be watching the fiscal cliff. on friday the markets closed down as investors watched those negotiations lead nowhere. the dow dropped 158 points. >> falling below the 13,000 level. the nasdaq finished the day down 25 points. >>> investors will get a string of economic reports when the new year begins. the latest numbers on spending will be released, and on friday the latest employment figures come out. the job market has improved in recent months. analysts expect the unemployment rate to stay at or near 1.7%. >>> the cover reads #last print issue, letting people know the magazine is now only online. newsweek was first published back in 1983 i can't it is the way things have been going. >> it is. we are this a digital age but it is sort of sad. i do read it online. i'm still a fan. >>> this morning we are hoping to get hired through dc jobs.com. >> the u.s. marine corps is hiring a business analyst. you need three plus years of experience for us. to find out more go to wusa9.com. when you return, olga will have your weather
another look at the fiscal cliff and what it is going to take to get a deal done. our gop and democratic strategists are standing by to dive into that debate. >> and christmas is over, but the deals are still out there. you'll find out what is expected to drop in price as we head into the new year. >>> this is fox 5 news at 10:00. >>> back to our top story, we are just three days way from reaching the fiscal cliff -- away from reaching the fiscal cliff. this afternoon president obama held talks with congressional leaders at the white house. the president says he is hopeful a deal can be reached in order to avoid automatic tax increases and spending cuts come january 1st. senator harry reid and mitch mcconnell are trying to hammer out a deal the house might approve, but the house is ticking. joining us now are our political strategists. brendan, the president today said is he going to have senator mcconnell, senator reid start off on this package, but doesn't that eliminate a big player in this, which is john boehner, if this has to get passed through the house? >> certainly and he's been
that are in our control and we have to worry about our fiscal houses and less about the fiscal cliff. >> and those are simple things to do but they take time. but it's good advice. >>> okay, we hear a lot about the amt and how congress may put a patch on that. can you explain it in a simple way so everyone can understand? >> back in '69 they came out with something called "minimum tax." and in '82, the alternative minimum tax and this was a way to make sure the ch wealthy pay their fair share. this is how to level the playing field a little bit. this simply says now it's around $74,500. if -- it will go down to about $45,000 if the fiscal cliff goes off and nothing is done to adjust it. individuals now getting $45,000 back in '82 when first enarngted which is a lot different than $45,000 today. so if individuals earning $45,000 today might be impacted by additional taxes by this amt if something's not done. and, again, this is just a way to try to -- the problem with the amt is it wasn't adjusted for inflation so as time went on and prices have gone up and people have made more money and inflation
but the hoursntil we reach the fiscal cliff. congress goes back to work in a few hours. at the last minute, the vice president is getting involved. we're going to have the latest on those talks ahead. >>> right now, at 6:00, here it is. already 2013 in auckland, new zealand. this is a live look there right now. they are the first to ring in this new year. >> exciting. >> very exciting. happy new year. >> happy new year to you too and everyone out there in new zealand. >> beautiful fireworks. it's 6:00, 6:01. it's pretty chilly here. if you have to go to work this morning, bundle up for your commute. storm team 4 meteorologist veronica johnson has the forecast. >> bundle up for sure. the current temperatures there. but look at the windchill readings. they're 5, 6, 7 degrees lower than the actual air temperature. it's not taking much. only a wind of 5 to 10 miles per hour. for this area now, it's a westerly wind. again, it's bringing the numbers down. sandy spring windchill reading at 22 degrees. east into prince george's county, around largo, you're feeling like 23. 21 right now the windchill reading
over the so-called fiscal cliff, the punishing combination of higher taxes on just about every worker in america and deep spending cuts particularly to our military. top lawmakers are calling in staff members for meetings on this saturday. right now we are told senate leaders are working on a potential deal. still our journalists on the hill are being told there will be no official proposals or votes until tomorrow at the very earliest. the time line qoo -- could not be tighter. we will begin seeing lower tax rates expiring and federal aid for things like unemployment checks. here is a statistic for you. if there is no deal in place for january 1st, those benefits, those unemployment benefits will no longer be authorized. the law project estimates some two million americans will stop receiving benefits after december 29th. that's today. many experts fear going over the cliff could send our weak economy plunging back into a recession. president obama says he remains optimistic, but he says no bargain could be reached in congress, then congress must vote on his back up plan to block tax
hill just as economic analysts say we are about to go over the so-called fiscal cliff, the punishing combination of higher taxes on just about every worker in america and deep spending cuts particularly to our military. top lawmakers are calling in staff members for meetings on this saturday. right now we are told senate leaders are working on a potential deal. still our journalists on the hill are being told there will be no official proposals or votes until tomorrow at the very earliest. the time line qoo -- could not be tighter. we will begin seeing lower tax rates expiring and federal aid for things like unemployment checks. here is a statistic for you. if there is no deal in place for january 1st, those benefits, those unemployment benefits will no longer be authorized. the law project estimates some two million americans will stop receiving benefits after december 29th. that's today. many experts fear going over the cliff could send our weak economy plunging back into a recession. president obama says he remains optimistic, but he says no bargain could be reached in congress, t
with the fiscal cliff. i'm looking now to congress and say, pass the amt patch today. >> gretchen: all right. we'll see if they're listening to marty, a cpa who is a little nutsoutrig to get everything done before year's end. >> thank you very much. >> gretchen: georgetown cup cakes secret ingredient this new year, champagne? we're showing you how it make the party even sweeter with sophie. yep, she's just one part of the team with our others and she's here hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. >> gretchen: welcome back. wicked weather like this wreaking havoc on airports across the country. what can travelers expect? wfxt's katherine is live at logan international airport with the latest op the travel nightmare out of boston. good morning. >> good morning, gretchen. the sun is shining on us here in boston. but flights already beginning to be affected by the storm. flights going to dallas, columbus and
as we get it. >>> increased fears this morning about running off the fiscal cliff. the deadline for preventing tax hikes is one week today. it is likely that the president and congress will work right to new year's ever. >>> overseas now, where an american has been killed by an afghan policewoman. there have been similar insider attacks, but this is the first time a female security officer has been involved. >>> the nra is not backing away from the call for armed officers in schools. congressman chris murphy, whose district includes newtown calls the stance tone deaf and revolting. >>> a rel christmas gift, getting to where you're going on time today. storms are causing major trouble. not only trying to get through snow-covered roads. rain and wind are grounding flights in warmer parts of the country as well. >>> finally, christmas a good time to do star-gazing. jupiter and the moon will be close together in the sky and very bright. you'll be able to see them even in urban areas. the star of bethlehem may have been a similar astronomical event. you have to look to the east south
one week left before the country goes over the fiscal cliff. your taxes will soar if congress and the president can't reach a deal. so steve is live for us in washington with the very latest. all right, good morning to you, steve. >> good morning, gretchen. yeah, the house as you know, tried and failed to pass some kind of a compromise on that fiscal cliff. now the spotlight falls on the u.s. senate. some kind of deal could have a better chance there because the senate is not as bitterly divided as the house. success depends partly on whether mitch mcconnell decides to filibuster any legislation. there is senate republicans who are willing to compromise in order to avoid the fiscal cliff. including kay bailey hutchison of texas and johnny isakson of georgia. >> time is running out. and the truth of the matter is, if we do fall off the cliff after the president's maturitied, he'll come back, propose just what he proposed yesterday in leaving washington and we'll end up adopting it. why should we put the markets mn such turmoil and the people in misunderstanding or lack of confi
. will happen tonight to work on a fiscal cliff deal. don't wait for washington to reach a deal by the end of the year. coming up, what you can do right now to minimize the impact on your own bottom line. >>> jessica simpson used the holiday to confirm she is pregnant once again. she tweetd a picture of her 7-month-old daughter maxwell with the words "big sis." >>> in mobile, alabama, for us this morning, jim cantore. good morning. >> reporter: good morning, savannah. storm prediction center said we had as many as 34 tornadoes yesterday. average for the month of december is 26. church behind me here heavily damaged, two sections of the roof have been torn off and dropped below. christmas morning, that church was full of people and parishioners attending christmas service. power poles have been taken down as well. the last thing people in mobile expected on christmas day was to be cleaning up after a tornado. >> oh, my god! look at that. >> reporter: this was the scene in downtown mobile, alabama, late tuesday afternoon, a tornado touched down in the city of about 200,000. >> oh, wow! check
. >>> the president and congress will try one more time to reach a deal before falling off the fiscal cliff. the president will cut his vacation short. >> happening now bargin hunters out looking for a day after christmas sale. we are live at the valley fair mall to tell us about those deals. >> reporter: hi. if you have something to return or you need to use a gift card it's a good time to come. there are plenty of spots where you can park and i just walked inside in to the mall and it's not crowded at all. at the valley fair mall the stores all opened at 7:00 a.m. people wanted to take advantage of the after christmas sale. traffic this morning was light. kohl's opened up even earlyer at 5:00 a.m. they were trying to lure people with early bird deals. it's one of many retailers offering deep discounts. ? one woman wasn't impressed when she shopped. >>> did you find anything? was --. >> actually one of the things i needed to exchange is now full price and i'm not, last year's deal was better. >> reporter: polls showed that sales of two months before were the weakest since 2008. they grew
about running off the fiscal cliff. the deadline for preventing tax hikes and government spending cuts is just one week from today. the president and congress return to washington later this week. it's likely they'll work right to new year's eve. one possibility is striking a deal on taxes but leaving the spending for later. >>> overseas now, where an american has been killed by an afghan policewoman. the attack took place at police head quarters in kabul. where there have been similar insider attacks, this is the first time a female security officer has been involved. >>> the nra is not backing away from its call for armed officers in our nation's schools. and the group vows to fight any effort by congress to strengthen gun control laws. now congressman chris murphy, whose district includes newtown, calls the stance "tone deaf and revolting." >>> a real christmas gift, it would be getting to where you're going on time today. storms are causing major travel trouble throughout the nation. it's not only trying to get through snow-covered roads. rain and wind are grounding flights in the
. and the storms, they are just getting geared up. >> fiscal mess. exactly one week until we go off the cliff and new word that no one is reaching across the aisle right now. and remembering a legend. hollywood says good-bye to the "odd couple's "cigar-chomping oscar madison. i'm dana bash. alina, merry christmas. >> merry christmas, everyone. it's tuesday, deebs 25th. "starting point" begins right now. >>> and our starting point, those dreaming of a white christmas may be paying for that this morning. extreme weather is on the way this christmas day. millions could be in store for a foot of snow or more. it could even be a rare white christmas down south, along with a threat of tornadoes. bonnie schneider is tracking the holiday storm and, hey, good morning. >> good morning and merry christmas. unusual to see a snow storm set up here in oklahoma and in arkansas, and when you're looking back at the records some of the places highlighted in pink are going to see a white christmas and a snowfall going through christmas night. that hasn't happened in 80 years. what else is unusual. blizzard warn
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